Bitcoin has recently been hovering in the range of $104,000 to $105,000, and on-chain data reveals potential turning signals in the market. According to the latest analysis, the current BTC chip concentration has reached 12% and is rising at a fast pace. If the concentration further climbs to 13%-15%, the market may experience short-term directional volatility.
The change in chip concentration is closely related to the turnover rate when prices are stable. Currently, the BTC price is hovering between $104,000 and $105,000, with low trading activity leading to a rapid accumulation of chips. If the concentration breaks through 15%, it may reach the 'warning line.' Historical data shows that since 2021, concentration has rarely exceeded 15%, while in July 2020, it reached a rare high of 19%. At that time, BTC rebounded from $5,000 to $9,000 after the March 'black swan' event, and the market experienced significant turnover, especially during the period from May to July when it hovered around $9,000 for two months, resulting in high chip concentration. Subsequently, the concentration quickly declined, and the BTC price soared from $9,000 to $60,000, initiating a strong market trend.
The current market situation is similar to historical patterns, but the direction remains unclear. The continuous rise in chip concentration indicates that the market is building momentum, whether for an upward breakout or a downward adjustment, may manifest when the concentration reaches 15%.#比特币
